Joe Wiggins is the excellent author of the Behavioural Investment blog and the newest guest on the TVP Pod. He's interviewed by Andy Evans and Liam Nunn who discuss how Joe's background in sociology and behavioural science has helped him advise investment managers. He stresses how behavioural issues are important to investment outcomes and being conscious of those behaviours and biases can help all investors - from retail to professional.

Minutes:

1:08 Episode Intro

1:50 Joe's background

3:47 What are the most common behavioural issues?

5:57 Are there any biases that are unique to investing?

7:22 Outcome Bias and thinking in probabilities

10:14 The prevalence of overconfidence - what can fix it?

12:33 Process v. outcome - how can investors learn more from mistakes?

15:19 The consideration of time - why do we struggle with time horizons?

20:17 Do professional investors feel the need to be constantly active?

23:42 Has the approach to behaviour bias in finance evolved at all in recent times?

26:28 How can we improve decision making?

28:13 Examining decision making in other industries

32:49 A bad outcome that came from bad process and book recommendations

Book recommendations:

The dog and the frisbee by Andrew Haldane

Gut Feelings by Gerd Gigerenzer

NEW EPISODES:

We release a new episodes every three weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify and other podcast players.

GET IN TOUCH:

send us a tweet: @TheValueTeam

Important information. This podcast is for investment professionals only.

This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy.

Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.

Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. The views and opinions contained herein are those of individual to whom they are attributed, and may not necessarily represent views expressed or reflected in other communications, strategies or funds.

The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall.

Past Performance is not a guide to future performance and may not be repeated.

The forecasts included should not be relied upon, are not guaranteed and are provided only as at the date of issue. Our forecasts are based on our own assumptions which may change.

163. Objections? You've Already Lost the Deal w/ Neal Patel

What You’ll Learn

Show Agenda and Timestamps